Date: November 24, 1930
Location: Northampton, MA
(Original document available here)
The national and state governments are nearly a unit in their expressed desire to promote a revival of business. Probably as soon as Legislatures meet they will propose remedies for much business with which they are not now connected. Before taking jurisdiction over other economic activities, it might be well to put those already under governmental control in a profitable and prosperous condition. When that is done people would feel more confidence in surrendering more of their business to local and Federal supervision.
Federal farm marketing is in the experimental stage and clearly entitled to a chance to demonstrate its value. But for many years the states and nation have had very complete regulation of railroads. Transportation is a key industry. If it can be revived almost all business will improve. The railroads have been asked to spend money and have responded. They cannot expend money they do not have. Undoubtedly the railroad presidents could tell how they can get more money and be relieved of some restrictions with little burden to the public. Here is an opportunity for the governmental commissions to take the lead in reviving business and increasing employment by giving the railroads a chance.
Citation: Calvin Coolidge Says: Dispatches Written by Former-President Coolidge and Syndicated to Newspapers in 1930-1931 (Calvin Coolidge Memorial Foundation)
The Coolidge Foundation gratefully acknowledges the volunteer efforts of Craig Eyermann who prepared this document for digital publication.